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INSEQ Executes $30 Million Manufacturing Agreement; Company to Manufacture Proprietary Systems to Extract Corn Oil for Conversion into Biodiesel Fuel 8/23/2005 7:56:01 AM
MOUNT ARLINGTON, N.J., Aug 23, 2005 (BUSINESS WIRE) -- INSEQ Corporation (INSQ) today announced its execution of an agreement with Ethanol Oil Recovery Systems, LLC ("EORS"), to manufacture proprietary systems to extract crude corn oil from the evaporation area of dry mill ethanol facilities for further refining into biodiesel fuel.
EORS, a green technology development company, is the inventor of a new patent-pending breakthrough technology for the cost-effective conversion of corn oil into biodiesel fuels. EORS is a participant of a development partnership comprised of and managed by ethanol producers and plans to finance and construct a biodiesel production facility that will refine the crude corn oil and convert it into biodiesel fuels.
The EORS process will redirect an internal waste stream in dry mill ethanol facilities through EORS' proprietary extraction systems where crude corn oil is extracted and then prepared for shipment offsite for further refining. The extraction systems are the essential element of the EORS technology.
Under the terms of INSEQ's agreement with EORS, EORS has granted INSEQ right of first refusal rights relating to the manufacture of the extraction systems and any other manufacturing needs relating to the extraction systems. INSEQ expects the extraction systems to retail for about $1 million per system and that EORS and its affiliated entities will need in excess of 30 systems over the next 24 months, for total expected revenues of more than $30 million. INSEQ will manufacture the systems at its Ohio based specialty equipment manufacturing facility. The first of these systems are expected to ship during the fourth quarter of 2005.
Kevin Kreisler, INSEQ's chairman, said that "The EORS technology is an exciting and important advance that is designed to plug right into most ethanol producers' existing infrastructure. We see the EORS technology as a particularly potent example of how we can and should be using our natural resources better, and how we can be more profitable for it. These systems will generate additional revenue and increase earnings for ethanol producers, as well as for EORS and INSEQ, and they will enable the increased production of cleaner burning green fuels that can be expected to reduce demand for fossil fuels and reduce the generation of greenhouse gases."
Kreisler added: "GreenShift intends to facilitate profitable interaction between its portfolio companies as appropriate. This agreement is a significant development for both INSEQ and EORS and GreenShift expects to provide INSEQ with financing and any other support it needs as it gears up to meet EORS' needs over the coming months."
EORS and INSEQ are respectively 15% and 70% owned by GreenShift Corporation (GSHF), a business development corporation whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains.
About INSEQ Corporation
INSEQ Corporation is a publicly traded company whose mission is to directly facilitate the efficient utilization of primary and secondary commodities including metals, chemicals, fuels and plastics. More information on INSEQ is available online at www.inseq.com.
INSEQ is 70% owned by GreenShift Corporation, a business development corporation whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains.
-------------------- Lil,
Dont LOSE more than you can afford to invest....LOL
I'm buying low and selling into the run... Posts: 8024 | From: Joisey....see attitude above | Registered: Jan 2004
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yea, and the chart looks good as well...MACD just crossing and going up, the BB's are tightening and the RSI is just turning North....any sudden movement and I'm IN!
-------------------- Lil,
Dont LOSE more than you can afford to invest....LOL
I'm buying low and selling into the run... Posts: 8024 | From: Joisey....see attitude above | Registered: Jan 2004
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INSEQ Chairman Cancels Sale of Stock; Surrenders 50 Million Shares for Retirement by the Company INSEQ Corporation (OTC Bulletin Board: INSQ) today announced the cancellation by its chairman, Kevin Kreisler, of his previously planned sale of INSEQ common stock.
Mr. Kreisler had previously planned to sell 35 million shares of his INSEQ stock over the next thirty to ninety days under the terms of a 10b5-1 program. No sales were completed to date under this program, in part because Mr. Kreisler's share price goals were not met. Mr. Kreisler will instead surrender all 35 million shares to the Company for retirement, plus an additional 15 million shares of INSEQ common stock issued to Mr. Kreisler for his services earlier this year.
"I was impressed with the response I received from a number of our shareholders relative to my planned sale," said Kevin Kreisler, INSEQ's chairman. "I had intended to contribute a portion of the proceeds from these sales to reduce INSEQ's debt. But a number of our shareholders argued that surrendering the shares will be more accretive to shareholder wealth than simply reducing debt today, particularly as we reduce debt with the earnings and surplus assets of INSEQ's planned acquisitions. I re-worked the numbers and they appear to be correct. Accordingly, I am cancelling my planned sale and surrendering these 35 million shares plus an additional 15 million shares of INSEQ common stock that I had received earlier this year for my services."
About INSEQ Corporation
INSEQ Corporation is a publicly traded company whose mission is to directly facilitate the efficient utilization of primary and secondary commodities including metals, chemicals, fuels and plastics. More information on INSEQ is available online at www.inseq.com.
INSEQ is 70% owned by GreenShift Corporation (OTC Bulletin Board: GSHF), a business development corporation whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains.
Safe Harbor Statement
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of INSEQ Corporation, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
INSEQ Corporation Jim Grainer, 973-398-8183 fax: 973-398-8037 investorrelations@inseq.com www.inseq.com or CEOcast, Inc. for INSEQ Corporation Ed Lewis, 212-732-4300 fax: 212-732-1131 elewis@ceocast.com
Source: Business Wire (August 22, 2005 - 8:03 AM EDT)
-------------------- Sometimes you gotta create what you want to be a part of. - Geri Weitzman Posts: 40 | From: Macon, GA | Registered: Aug 2005
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It was nice to see +1,700% even if it was for a brief second. We sure can hope..
Posts: 43 | From: Suffolk County NY | Registered: Feb 2005
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don't worry they will learn, buy at this price below .005 this will rock big time SOON
Posts: 2362 | From: BEENEVERYWHERE | Registered: Mar 2005
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